As an individual's financial risks and responsibilities increase through family formation and other events, individuals often purchase additional life insurance at those moments to protect against the risk of the individual's premature death. However, life insurance policies purchased later in a person's life are often more expensive than life insurance policies purchased earlier in a person's life.
Accordingly, there is an unmet need to facilitate the ability for consumers to acquire reduced life insurance premiums for policies that are initiated later in a person's life.
A component or a feature that is common to more than one drawing is indicated with the same reference number in each of the drawings.